GSK Consumer Nigeria Plc seems to have moved one step ahead in its bid to transfer the manufacture of some of its products to a local partner.
In a notice sent to the Nigerian Stock Exchange (NSE), the company announced it had picked Fidson Healthcare Plc as its preferred local contract manufacturing partner.
GSK will thus transition the manufacture of its respiratory and wellness products to Fidson from the third quarter of 2021. The firm, however, maintained that activities would continue at its Agbara plant till then.
Until then, it will be business as usual at the Agbara Factory, as GSK continues to ensure supply continuity of all its locally manufactured brands.
Prior to this
GlaxoSmithKline Consumer Nigeria Plc (GSK) had early this month, issued a notice stating it says it would shut down its production facility in Agbara by the third quarter of 2021.
The move, according to the firm would enable it to focus on building “a more sustainable commercial business”.
Riddle solved
At a Facts Behind the Figure session, held a few weeks ago, Fidelis Ayebae, Fidson’s Managing Director had hinted at a partnership with a global pharmaceutical giant. He, however, declined to mention the name of the partner, preferring to wait until the conclusion of the company’s rights issue.
Fidson Healthcare is currently trading at N4 in today’s session on the NSE, down 5.88%.
GSK Consumer is currently trading at N9.35, in today’s trading session, up 4.47%.